#Futures #ShortStrangles – Following hcgdavis into the oil fields…
SOLD /CL AUG 17 45/55 STRANGLE @ .83
Author Archives: fuzzballl
ETH (Ethereum)
When it’s a long weekend with nothing else to trade…LOL
#Cryptocurrency – BitCoin is getting a little pricey so taking the next best thing…starter position:
Bought 1 ETH (Ethereum coin) @ 160.0
Just something fun to watch. This could be at 5000 or 5 in a day…currently trading for 195. Rumor is AMZN may start accepting these and it appears MSFT JPM INTC and some others are on board.
🙂 🙂
ISRG
#ShortStrangles -This one should finally expire today after multiple roll-ups since earnings…
ISRG MAY 26 2017 905.0 Put (sold for 34.20)
Replacing with this:
Sold ISRG JUN 2 2017 910.0 Put @ 7.00
IBB
#ShortStrangles – Sold against a June monthly 305 call…
Rolled IBB MAY 26 2017 295.0 Put to JUN 16 2017 295.0 Put @ 2.01 credit
SVXY
#CoveredCalls – Gonna hang onto the stock a little longer. Keeping the covered call DITM for max downside protection…
Rolled SVXY MAY 26 2017 137.0 Call to JUN 16 2017 137.0 Call @ 2.55 credit
REGN
#ShortStrangles – Still selling weeklies collecting premium against longer term ITM calls…
Rolled REGN MAY 26 2017 465.0 Puts to JUN 2 2017 462.5 Puts @ 3.00 credit
EWZ
#LongCallDiagonals – Replacing the ones closed earlier this week…
Sold EWZ JUN 16 2017 37.5 Calls @ .56
NUGT DUST combo platter
#PairsTrade #ShortCalls – The July meal is starting to digest so back to the buffet for December…they both can’t lose!
Selling the highest available strikes:
Sold DUST DEC 15 2017 50.0 Call @ 3.90
Sold NUGT DEC 15 2017 58.0 Call @ 4.30
EWZ
#LongCallDiagonals – Really trying to keep the front month calls out of the way on this thing. It’s at resistance so may pull back but playing it safe. I’ll look for something higher to sell.
Bought to Close EWZ MAY 26 2017 35.5 Calls @ .37 (sold for .61)
EWZ
#PerpetualRollingStrangles – I’ve got a couple of directional positions on already. This one is a little more neutral. Low margin and nice return. One of the highest IV rank stocks on the Tastyworks list.
Sold EWZ JUN 30 2017 32.0/38.0 Strangles @ 1.12
EWW
#PerpetualRollingStrangles – Slow and steady…
Bought to Close EWW MAY 26 2017 51.5 Puts @ .04 (sold for .75)
Sold EWW JUN 16 2017 52.0 Puts @ .74
These types of positions are working so well in GLD and TLT I’ll probably be adding EWZ and XLE at some point…
ISRG beast mode
#ShortStrangles – Nearly a 20 percent move in a month. Pretty impressive. Making a small adjustment…
Rolled this week’s 865 put up to 880 @ 4.00 credit
Rolled Jun 30th 862.5 call up to 867.5 @ 3.70 debit
Preserves my original premium in this week’s put sale while easing the ITM call up a little…
JPM
#LongCallDiagonals – Adjusting front month sales…
Bought to Close JPM MAY 26 2017 88.5 Calls @ .03 (sold for .45)
Sold JPM JUN 2 2017 86.0 Calls @ .50
EWZ Whiz style
#LongCallDiagonals #IRA – Adding one of his with modified strike prices…he uses long delta 80 Leaps and just buys protective puts 20 percent below the current price. I generally buy about delta 70 Leaps and sell bull put spreads to reduce the entry fee. Either way though, sell front month to reduce basis.
Bought Jan 2019 30 calls and sold Jan 2019 25/20 Bull put spreads (and sold May 26 35.5 calls against these). Net debit of 6.35.
With 87 weeks to go front month calls don’t need to bring in much at all for this to be a zero cost trade…
XIV stock
#HolyCrap – Can’t believe it…a stock trade at “The Bistro” !!
#IRA – Just for fun was scaling into some XIV this week at 77.85, 75.70, 73.35, and the biggest chunk at 68.02. Average share price of 72.59. Wasn’t looking too good initially so with this move today I feel like “ya gotta book it”. Could see another 9 handle in the VIX but no greed here.
Sold XIV stock @ 74.60 (bought for 72.59)
ISRG adjustment
#ShortStrangles – Spending a little of the weekly premium accumulated to make a small roll up. Trying to keep all of these in the expirations prior to the next earnings announcement. Then, if I still have the position, it can be rolled up or down quite a bit for a credit rolling it into the high IV of an earnings week.
Rolled ISRG JUN 16 2017 855.0 Call to JUN 30 2017 862.5 Call @ 1.16 debit
Sold against next week’s 865.0 put…total premium for the entire position is now down to 27.20. Would still love to be out by earnings. Amazing move on this thing…120 points from the low the day before earnings. 16 percent in 3 weeks. Are stocks like this actually worth that much?
/ES hedge adjust
#Futures – After a couple rolls down earlier this week I managed a small profit so re-setting for June.
BOUGHT /ES MAY 17 (Wk3) 2350 CALL @ 19.75 (sold for 28.50)
SOLD /ES JUN 17 2370 CALL @ 26.00
SVXY TOFTT update
#TakeOneForTheTeam – Was short a 160/155 put spread from a couple weeks ago. Of course was exercised early on the short 160 today. Immediately closed the 155 long put for 17.25. Originally received 2.80 for the spread so a grand total of 20.05 in premium to offset the 160 purchase price.
Stock basis of 139.95 is where she settled out…
I don’t feel like I really need this protection for the Jan 2018 short calls anymore so will aggressively try to unload this by selling a covered call slightly in the money.
Sold SVXY MAY 26 2017 137.0 Call @ 4.85
Still make a couple bucks with breakeven of 135.10
Rolled GLD
#PerpetualRollingStrangles – Darn it…thought she might take out the puts this week but didn’t quite have the oomph. Rolling a month and tightening the inversion by a half point while still bringing in nice credit.
Rolled GLD MAY 19 2017 120.5/113.0 inverted strangles to JUN 16 2017 120.0/113.0 @ .80 credit
CMG roll
#ShortStrangles – Got a little too aggressive rolling the put up. Trying to bring it back down a little. Premium on this contract is up to 17.10. May have to use some of that to roll the June 450 call it’s sold against.
Rolled CMG MAY 19 2017 500.0 Put to JUN 2 2017 497.5 Put @ 1.00 credit
ISRG roll
#ShortStrangles – Rolling out a week for nice credit. Premium now up to 17.65 on this contract. Sold against a Jun monthly 855 call…
Rolled ISRG MAY 19 2017 865.0 Put to MAY 26 2017 865.0 Put @ 3.00 credit
REGN
#ShortStrangles – Still selling the crap out of weeklies against longer term 420 calls. Accumulating plenty of premium for a roll if needed.
Bought to Close REGN MAY 19 2017 445.0 Puts @ .68 (sold for 10.00)
And:
Sold REGN MAY 26 2017 455.0 Put @ 8.55
Sold REGN MAY 26 2017 457.5 Put @ 9.65
IBB
#ShortStrangles – Waiting a little before making a decision on this week’s 295 put. Selling a June call against it slightly above recent highs.
Sold IBB JUN 16 2017 305.0 Call @ 1.41
UVXY
#VXXGame – Adding one…
Sold UVXY JAN 18 2019 60.0 Call @ 3.75
EWZ
#FallingKnife – Taking a slight directional play but could get the stock at a decent basis no matter how far it falls…
Sold EWZ JUL 21 2017 35.0/30.0 Bull Put Spreads @ 2.35
UVXY experiment
VP succession…tongue in cheek (or not)
I’m no political science guy but I think when the Vice-President becomes president he nominates a new VP and then Congress approves.
Who and what are the odds…feel free to add!
🙂 🙂
Marco Rubio: even money
Jeb Bush 500:1
NVDA roll
#ShortStrangles – Taking my medicine for actually taking a directional play on something…the only one in my main portfolio…LOL
Rolled NVDA JUN 16 2017 140.0 Puts to DEC 15 2017 125.0 Puts @ .22 credit.
There’s over 8 dollars of premium in these puts already. I’ll continue selling a few conservative weekly calls against them between now and then.
WYNN roll
#ShortStrangles – Just to make sure there’s no monkey business with early assignment…
Rolled WYNN MAY 19 2017 130.0/110.0 inverted to JUN 2 2017 130.0/110.0 @ .90 credit
SVXY
#ShortPuts #VXXGame – After selling those additional puts earlier this week I promised myself I’d thin the herd if things got dicey. Since I’m probably going to be long 100 shares this week from my 160/155 BuPS I’m playing it really safe. Still nice winners and reduces a lot of risk…and I absolutely hate seeing winners turn into losers.
Bought to Close SVXY JAN 19 2018 55.0 Puts @ 1.75 (sold for 2.85)
Bought to Close SVXY JAN 19 2018 60.0 Puts @ 2.35 (sold for 4.55)
GLD getting there
#PerpetualRollingStrangles – Been rolling 120.5/113 inverted forever waiting for one side to expire. Got a chance on the put side this week. Go baby go! Then roll the calls out to a new strangle. Probably still inverted but finally get to book premium on the 120.5’s….maybe. Big move in gold back above the 200ma for now.
SVXY
#IRA #ShortCalls #VXXGame – I know this sounds backasswards but these were practically unchanged on the little bounce right after the open. Thinning out some risk and looking to sell lower eventually…
Bought to Close SVXY SEP 15 2017 60.0 Put @ .81 (sold for 3.15)
Bought to Close SVXY SEP 15 2017 65.0 Put @ .96 (sold for 3.97)
Bought to Close SVXY SEP 15 2017 70.0 Put @ 1.20 (sold for 3.25)
And one small sale:
Sold SVXY DEC 15 2017 70.0 Put @ 2.30
TGT low probability low risk
#Earnings – Sold 50/52/54 skewed iron fly @ 1.62
Risk 38 to make 162. Two dollars wide on a 2.66 expected move. Obviously I’m looking for all of that move to the downside…
SVXY
ISRG roll
#ShortStrangles – Breaking out to a new leg higher after a short earnings consolidation. Rolling up again…
Rolled ISRG MAY 19 2017 850.0 Put to MAY 19 2017 865.0 Put @ 4.70 Credit
Now short this week’s 865.0 put @ 14.65 selling against a June 855.0 call. With no pullback the plan is to take a little of the put premium and pay to roll up the call and sell another put next week.
CMG roll
#ShortStrangles – Making a pretty aggressive roll here. Feels like it might wanna gravitate towards 500 by expiration…
Rolled CMG MAY 19 2017 487.5 Put to MAY 19 2017 500.0 Put @ 6.00 Credit
Now short this week’s 500 put @ 16.10 selling against a June 450.0 call. With no pullback the plan is to take a little of the put premium and pay to roll up the call and sell another put next week.
SVXY again
#VXXGame – Sort of a #TakeOneForTheTeam but pretty conservative. I’m losing a lot of long deltas from Sep and Jan put sales down in the 50, 55, 60, and 65 area so adding a few higher with a close eye on the previous ones. I’ll book those if things get dicey and leave these new ones. My position size is bigger temporarily but it won’t be if we get weak. These are margin free against short calls…
Sold SVXY JAN 19 2018 70.0 Put @ 2.56
Sold SVXY JAN 19 2018 75.0 Put @ 3.21
Sold SVXY JAN 19 2018 80.0 Put @ 3.90
REGN adjustment
#ShortStrangles – Still trying to talk her down off the ledge…
Rolled REGN MAY 19 2017 435.0 Puts to MAY 19 2017 445.0 Puts @ 3.20 credit.
Total premium received for 2 weeks of put sales now up to 16.50. At some point might use a little of this to roll up Sep 420 calls…
/ES hedge
#Futures – Looks like I’ll be taking a short position this Friday with a basis of 2387. Pre-selling a put against it to raise the basis even further while still giving a little room for some profit on a pullback.
SOLD /ES JUN 17 2400 PUT @ 23.50
SVXY experiment
#ShortCalls #VXXGame – Looks like my tiny stock position will go away today so will be needing some protection for a bunch of Jan 2018 short calls. Even though all the strikes are above even my most aggressive projections for SVXY, I’m trying a new style of “protection”.
Sold 3 SVXY JAN 19 2018 200.0/190.0 Bull put spreads @ 7.20
If she continues up towards my lowest SVXY projection, this makes nice cash prior to any short call strikes getting hit. If it tanks, no matter how low it goes, I’ll own the stock 2.80 below where it’s trading at the time.
Anything between 200 and 225 (my lowest call strike) everything is a max winner and 2018 will be off to a great start. Reasonable protection for cheap with very little downside risk. I like it!
EDIT… ” I’ll own the stock 2.80 below where it’s trading at the time”.
NVDA reverse roll
You can scroll down a couple posts to my comment in Jeff’s “NVDA, partial roll” thread to see my reasoning for this. Basically, Dan pointed out in his free video last night the weekly squeeze in NVDA. TOS shows it just getting started and JC says these usually run 8-10 bars.
Because of all of this, and all the premium booked yesterday, I feel I can get a little directional and if it doesn’t work can get the stock at a very nice basis if required.
Rolled Sep 120 and 130 calls to Jun 140 puts @ 1.50 debit avg per contract
Sold NVDA JUN 16 2017 150.0 Calls @ .80
More than made up that .70 debit with this:
Bought to Close NVDA MAY 19 2017 128.0 Put @ 2.45 (sold for 5.76)
Bought to Close NVDA MAY 19 2017 129.0 Put @ 3.15 (sold for 6.58)
Bought to Close NVDA MAY 19 2017 130.0 Put @ 3.45 (sold for 7.54)
Bought to Close NVDA MAY 19 2017 131.0 Put @ 4.05 (sold for 7.77)
Bought to Close NVDA MAY 19 2017 132.0 Put @ 4.75 (sold for 8.42)
So, what’s the big picture?
Stock moves up it’s all good. Stock tanks and I roll puts down and eventually own the stock 8 dollars below the put strike since total premium so far is about 8 dollars per contract. Hopefully can have this all wrapped up by next earnings where we can do it all again! 🙂 🙂
SVXY….how high can it go?
My crude but simple chart courtesy of freestockcharts.com shows a couple possibilities for SVXY by Jan 2018 expiration.
1. We stay below the long term very aggressive upper trend line (yellow) and don’t exceed 195
2. We make a similar run as the one from last July to this most recent all time high (orange lines) starting with the low point of this last dip. That would take us to the 223 area.
*** Light blue vertical is Jan 2018 expiry and light blue horizontals are max estimates based on the two scenarios.
I’m not a fib guy or any of the fancy stuff. This is just a rough outline based on it’s history. Unless the VIX goes to zero I can’t see it exceeding the long term yellow line but who knows…I’m keeping all my call sales in Jan above 225 figuring it will hold.
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IBB
#ShortStrangles – Filled earlier but missed it. Sold against a 295 put. We’ll see where that ends up next week before selling another call.
Bought to Close IBB MAY 19 2017 300.0 Call @ .40 (sold for 3.00)
REGN
#ShortStrangles – I’m feeling like tomorrow’s 430.0 puts will be safe (sold for 6.30)
So:
Rolled Aug 410 calls to Sep 420 calls @ 3.25 debit…I’ll keep the other 3.05 as a profit. With these that far out in time it will cost about 3 dollars for evey 5 dollar roll up. I’ll try to keep collecting 5-6 per week to finance that and book some profit.
VRX…whew
#LongCallDiagonals – Just started this trade yesterday and already needing adjusted. I’m seeing 18 and 19 price targets on it now so gotta get the short calls out of the way of the LEAP calls.
Rolled May 19th 13.5 calls out to July 21st 16’s @ .04 debit (still a net .18 credit on these)
This clears the decks for a run all the way to at least 20 before the short calls and long calls have equal deltas.
EDIT…. 24.60 is the delta neutral number…LOL If we get there the trade is over. Fuzzy will be long gone!
JPM
Giving it a little room on this #LongCallDiagonals …
Sold JPM MAY 26 2017 88.5 Calls @ .45
SVXY
I’m long a little stock @ 151.14 from a #TakeOneForTheTeamTrade …. since I’ve got another one of these for next week I wouldn’t mind unloading the stock so covering it for tomorrow. If nothing else, I’ll reduce the basis a little.
Sold SVXY MAY 12 2017 151.0 Call @ 1.30
ISRG adjustment
#ShortStrangles – Rolled May 12th 850.0 put out to May 19th 850.0 @ 2.25 credit
Sold against June 855.0 call…once I feel this call is safe I’ll start rolling the put down and out. I’d like to be completely out of this position by next earnings.
Since earnings one ISRG strangle has brought in 20.65 in premium against 11k margin.
NVDA continues…
Bought to Close NVDA MAY 12 2017 118.0 Puts @ .35 (sold for 4.34 and 3.16 yesterday)
Sold NVDA MAY 19 2017 120.0 Put @ 2.27
Sold NVDA MAY 19 2017 121.0 Put @ 2.75
Sold NVDA MAY 19 2017 122.0 Put @ 3.29
Sold NVDA MAY 19 2017 123.0 Puts @ 3.87
Used a tiny portion of premium received to roll up and out a couple calls:
Rolled Jun 23rd 115 calls out and up to Jul 21st 120’s @ 2.16 debit
TLT adjustment
#PerpetualRollingStrangles – Selling some and rolling some…
Sold TLT JUN 2 2017 121.5 Calls @ .53
Rolled May 19th 123.5 puts to Jun 9th 123.0 @ even
MIZZOU moving
Heading out to start the move…another semester done. Have a great day everyone!!
VRX
#LongCallDiagonals – This is a low risk and possible high reward shot. Using the Whiz long call diagonal with protective put strategy. Low out of pocket cost and should recover all of it pretty early in the trade. Buying LEAP calls and selling narrow LEAP bull put spreads to reduce initial cost. Then, selling front month calls against the position similat to AMZN, GOOGL, and JPM trades I’m currently in.
Bought Jan 2019 10 calls and sold Jan 2019 7.5/5.0 bull put spreads @ 4.75 debit.
Still deciding when and where to sell the first batch of front month calls…
JPM
#LongCallDiagonals – In this trade similar to my AMZN and GOOGL trades. Long LEAP calls and selling front month against them. JPM perking up a little so getting out of the way for now. Don’t wanna get caught with front month ITM if she moves higher. Pretty happy already receiving over 5 points in front month premium in a few weeks during it’s little pullback.
Bought to Close JPM MAY 12 2017 87.5 Calls @ .25 (sold for .45)
TLT
#PerpetualRollingStrangles – Somehow got a partial fill on this right at the open…LOL
Bought to Close TLT MAY 12 2017 121.5 Calls @ .05 (sold for .75)
Looking to re-deploy out a couple weeks….
NVDA
#Earnings #ShortStrangles – Had an existing inverted strangle along with an earnings strangle. Adjusting all of them…
Bought to Close NVDA MAY 12 2017 98.0 Puts @ .02 (sold for 1.96)
Bought to Close NVDA MAY 12 2017 113.0 Puts @ .97 (sold for 4.40)
And on the little opening dip:
Sold NVDA MAY 12 2017 118.0 Puts @ 4.34
Sold NVDA MAY 12 2017 118.0 Puts @ 3.16 (too slow on this one)
With these secondary “double dip” put sales I’m testing the John Carter theory that says a gap up beyond the expected move usually continues it’s run so sold the puts in the money for Friday.
Still holding short 108 and 112 calls that will be rolled out or out into new strangles later this week.
AMZN adjustment
#LongCallDiagonals – Still fighting the short call but that’s a good thing. Rolling it up and out and reducing basis on long call LEAP (again).
Rolled Oct 20th 850.0 short call to Dec 15th 865.0 call @ .21 credit
And:
Rolled Jan 2019 750.0 long call up to Jan 2019 850.0 call @ 67.00 credit (new basis now 30.50)
This thing has to level off at some point where the rolls can catch up. In the meantime 2019 long call/Bups working nicely.
GOOGL adjustment
#LongCallDiagonals – Still fighting the short call but that’s a good thing. Rolling it up and out and reducing basis on long call LEAP (again).
Rolled Sep 15th 880.0 short call to Dec 15th 900.0 call @ .50 credit
And:
Rolled Jan 2019 750.0 long call up to Jan 2019 850.0 call @ 73.55 credit (new basis now 31.00)
This thing has to level off at some point where the rolls can catch up. In the meantime 2019 long call/Bups working nicely.
TLT
#PerpetualRollingStrangles – A couple small adjustments to keep the theta up…
Bought to Close TLT MAY 19 2017 124.0 Calls @ .09 (sold for .96)
Sold TLT MAY 26 2017 121.5 Calls @ .60
NVDA earnings
#Earnings #ShortStrangles – Busy week so checking in for a couple minutes. Already have a long term position in NVDA but premiums look so good will probably be selling some more strangles today. Current position is long a few deltas so looking at a skewed strangle in the neighborhood of 95/110.
Good luck everyone!
EVIX and EXIV
http://www.euroinvestor.com/news/2017/05/03/velocityshares-launches-first-european-volatility-etns/13589275
/CL and summer demand
My first foray into crude futures so staying low risk. If we get a pop it’s a decent profit. If she tanks (doesn’t matter how low it goes) I’ll be long one dollar below where it’s trading in August. Pretty decent call premium for selling covered when (if) I get assigned.
SOLD /CL AUG 17 48/46 BULL PUT SPREAD @ 1.00
REGN
#ShortStrangles – Bought to Close REGN MAY 5 2017 422.5 Puts @ .20 (sold for 25.20)
And:
Sold to Open REGN MAY 12 2017 430.0 Puts @ 6.50
UVXY….book ’em
SVXY
#ShortCalls – Adding to top of the ladder…
Sold SVXY JAN 19 2018 260.0 Call @ 3.20
CMG roll
#ShortStrangles – To eliminate any risk of overnight assignment…
Rolled this week’s 490 put out two weeks to 487.5 @ .55 credit. This is against a DITM short call so a welcome pullback.
GILD earnings
#Earnings – Making sure I get out of this….not risking a big drop tomorrow and saving exercise fees. Made about what my earnings trade target was by holding an extra week.
Sold to Close GILD Stock/Covered Calls @ 66.94 (basis 65.90)
EDIT… “Sold to Close”
SVXY for the team
#TakeOneForTheTeam – Took an additional stealth one for the team (didn’t post it due to the risk). Sold this week’s 151/156 BuPS early in the week. Got assigned last night on the 156 put so this morning sold the long put @ 2.20. Received 2.84 for the original sale so in the stock @ 151.
I’ll probably hang on to it for awhile to help protect Jan 2018 short calls @ 225, 230, 235, 240, 245, 250, and 255.
As of right now delta on the shares vs the short calls is -27. This becomes delta neutral @ 140.55 so I may end up selling a few more calls for some extra downside protection.
REGN never a dull moment
#ShortStrangles – Learned (again) another valuable lesson. Had short calls on this thing that could’ve been closed for pretty cheap one week ago today. Now…not so much after a straight up 70 dollar move in a week. These calls (382.5 and 390) will be rolled to new strangles or way out and up and then sell the crap out of weeklies against them.
The good news is I chased short puts all the way up the run collecting great premium along the way….
Currently the puts are:
422.5 @ 23.25 each average. These include rolls from 375 to 380 to 385 to 395 to 400 to 410 to 422.5…LOL!
Lots of maneuvering room here but would’ve been much easier to take the 80 percent of max winner last week…
SVXY
#IRA – Replacing a closed position from yesterday…
Sold SVXY DEC 15 2017 80.0 Put @ 3.50
TSLA strangle
#ShortStrangles – Sold TSLA JAN 19 2018 175.0/500.0 Strangle @ 6.10
TSLA
#Earnings – Once it broke 300 I bailed at even.
Bought to Close TSLA MAY 19 2017 295.0/350.0 Strangle @ 5.95 (sold for 6.00)
UP and DOWN x4
Crazy…
http://www.zerohedge.com/news/2017-05-03/there-now-quadruple-leveraged-sp-500-etf
TSLA earnings
#Earnings – Just for fun trying something a little different. Since I don’t want to sell any more than one strangle, gonna go out in time a little for more premium.
Sold 1 TSLA MAY 19 2017 295.0/350.0 Strangle @ 6.00
SVXY
My highest strike in the #IRA … freeing up margin for the next opportunity.
Bought to Close SVXY MAY 19 2017 90.0 Put @ .20 (sold for 2.75)
REGN earnings
If I didn’t have positions already, I’d be looking at this one…
